EL SEGUNDO, Calif., May 22, 2019 (GLOBE NEWSWIRE) – Collateral finance company (CFC), an authorized financial lender in California and a subsidiary of A-Mark Precious Metals, Inc. (NASDAQ: AMRK), one of the leading full service providers of products and services in the global precious metals market, today launched a redesigned website (www.CFCGoldLoans.com). The combination of the new website and a recently introduced online application and account management system is expected to both significantly improve the customer experience and position CFC to grow its loan portfolio. These improvements are consistent with A-Mark’s broader corporate strategy of deploying cutting-edge technology on its platform.
The new website features CFC’s loan program in an engaging format that educates potential borrowers on how they can achieve cash in bullion and numismatics without having to sell their assets. Website visitors are encouraged to complete a loan application online while existing customers can log into their accounts to pay their bills through the Automated Clearing House (ACH) network, wire transfers, or credit cards. Depending on market conditions and other factors, clients may also request additional loans.
CFC’s new digital platform has been designed to integrate with the websites of major third-party resellers who wish to offer precious metals loans to their customers. Whether under the CFC banner or “white label” with the name of a partner distributor, these programs are expected to expand CFC’s customer base by bringing a significantly larger number of precious metal holders into CFC’s loan program. . CFC expects its first platform integration with a third-party reseller to go live later this year.
“CFC is delighted to launch its new website which has been designed to complement its recently introduced online account and application management engine,” said Steve Reiner, executive vice president of financial products and ancillary services. ‘A-Mark. “These impactful and highly differentiated resources, combined with CFC’s 15-plus years of market leadership and the financial means provided by the $ 100 million asset-backed securitization that A-Mark closed last year, provide at CFC a powerful blend of consumer awareness, user friendly platforms and the financial resources to expand its secured lending business.
Armik Zakian, Chief Information Officer and Digital Transformation at A-Mark, added: “The launch of CFC’s new website marks the latest initiative in our overall strategy of injecting technological innovations into the A ecosystem. -Mark. These improvements will help us effectively secure new business, provide our customers with an enhanced experience, and establish an environment conducive to continuous innovation.
About A-Mark Precious Metals
Founded in 1965, A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is a leading full-service precious metals trading company and wholesaler of gold, silver, platinum and palladium bullion and commodities related. The company’s global customer base includes sovereign and private currencies, manufacturers and manufacturers, refiners, resellers and online retailers, financial institutions, industrial users, investors, collectors and retail customers. The company operates in three complementary segments: wholesale and ancillary services, secured loans and direct sales.
A-Mark operates several business units within its Wholesale and Ancillary Services segment including Industrial, Currency & Bar, Trade & Finance, Transcontinental Depository Services (TDS), Logistics, and Money. Its industrial unit serves manufacturers and manufacturers of products using precious metals, while its coins and bars unit processes more than 200 different products for distribution to dealers and other qualified buyers. As the US Mint’s authorized buyer of gold, silver and platinum coins, A-Mark purchases bullion products directly from the US Mint for sale to its customers. A-Mark also has concessions with other sovereign currencies, including Australia, Austria, Canada, China, Mexico, South Africa and the United Kingdom. Thanks to his TDS A subsidiary, A-Mark provides precious metals storage and management solutions to its customers around the world. Through its subsidiary AM Global Logistics, A-Mark provides its customers with a range of complementary services, including the storage, shipping and secure delivery of precious metals and personalized parts. A-Mark also owns a controlling interest in a joint venture that owns the minting operations known as SilverTowne Mint, which allows A-Mark to manufacture exclusive products and provides better access to manufactured silver products.
The company operates its secured loan segment through its wholly owned subsidiary, CFC. Founded in 2005, CFC is an authorized financial lender in California that creates and acquires loans secured by bullion and numismatic coins. Its clients include coin and precious metal dealers, investors and collectors.
A-Mark operates its direct sales segment through its wholly owned subsidiary Goldline Inc., a direct retailer of precious metals to the investment community. Goldline markets A-Mark’s precious metal products through various channels, including radio, television and the Internet.
A-Mark is headquartered in El Segundo, California, and has offices and facilities in Vienna, Austria, and Las Vegas, Nevada. For more information visit www.amark.com.
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Thor Gjerdrum, President
Precious Metals A-Mark, Inc.
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